Poland agrees to buy extra 1.5 million tons of LNG annually from US

Friday, June 14, 2019 3:00:08 PM

The Polish oil and gas company PGNiG has agreed to buy 1.5 million tons of liquefied natural gas (LNG) annually from the American company Venture Global LNG, over and above the amount agreed on in the contract signed by the firms in 2018, PGNiG told the press on Wednesday.

At the end of 2018, PGNiG signed a contract with Venture Global LNG to supply Poland with 2 million tons of LNG per year (2.7 billion cubic meters of gas after regasification) for 20 years, staring in 2023. Now the annual amount has been increased by 1.5 million tons, the Polish company announced.

“Starting in 2022-2023, from the export terminals belonging to Venture Global LNG in Louisiana and the Gulf of Mexico, we will receive a total of 3.5 million tons of LNG per year, which is equivalent to roughly 4.73 billion cubic meters of natural gas after regasification,” said PGNiG Vice President Maciej Woźniak.

The relevant agreement was reached during an official visit by Polish President Andrzej Duda to the US which began on Wednesday. The signing ceremony was attended by US Energy Secretary Rick Perry and Poland’s State Secretary for Strategic Energy Infrastructure Piotr Naimski.

“Poland and the US have a strong and strategic alliance and friendship which is fortified by a shared commitment to energy security,” PGNiG’s press service cites Perry as saying. The US Energy Secretary noted that the two nations are engaged in “strategic energy dialog”. “We look forward to even more in the months and years to come,” he added.